Republicans are HELL-BENT to hurt ordinary people — and to strangle the revenue stream for the U.S. Treasury — in order to further enrich big businesses and people who are already extremely rich!
We must push Congress to VIGOROUSLY REJECT — AND DENOUNCE — the Republicans’ cruelty!
When Republicans passed their 2017 “Tax Cuts and Jobs Act,” they allowed some of the tax cuts to expire so that the bill looked less costly on paper. It still cost nearly $2 TRILLION Now Republicans want Congress to make the ENTIRE TRUMP TAX SCAM PERMANENT. This would add an additional $3.5 trillion to our national debt over the next decade!
Republicans want to cut off the revenue stream in order to make deficits worse — and provide an excuse to cut programs that people need.
Additionally, corporations are experiencing record low tax rates, which were cut by 40% in 2017 from 35% to just 21%. Corporations do not need even more tax breaks such as changing the research & experimentation tax deduction, cost $155 billion over 10 years; extending 100% bonus depreciation, cost $250 billion over 10 years; and expanding the net interest deduction tax break, cost = $200 billion over 10 years.
If Congress is truly interested in reducing our national debt, you should raise taxes on the rich and corporations by raising the corporate tax rate to at least 28% (still lower than the 35% tax rate from just six years ago), and pass a Billionaire Minimum Income Tax to ensure everyone worth over $100 million is paying taxes each year, just like working people pay with each paycheck.
Also see this:
‘Tax Scam’: Republicans Follow Debt Ceiling Fight by Proposing Tax Cuts for Wealthy
“If House Republicans were actually serious about the deficit, they would demand wealthy corporations pay their fair share in taxes,” one advocate said.